BREAKING: Reserve Bank launches fresh court review against Public Protector | Fin24
 
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BREAKING: Reserve Bank launches fresh court review against Public Protector

Aug 03 2017 09:57
Matthew le Cordeur

Cape Town – The South African Reserve Bank (SARB) on Thursday launched a fresh high court review against Public Protector Busisiwe Mkhwebane.

The SARB wants the North Gauteng High Court in Pretoria to review and set aside the remedial action in Mkhwebane’s report regarding the alleged failure to recover misappropriated funds with regard to Bankorp.

It wants the court to review and set aside the obligation placed on the Special Investigating Unit and the SARB to submit an action plan to Mkhwebane regarding her remedial action.

"The SARB has filed an application to the Gauteng North High Court for the review of the Public Protector’s report and evidential factual inaccuracies therein," the bank said in a statement on Thursday.

"This is separate from the application which was heard by the Gauteng North High Court on Tuesday, August 1 2017, for the urgent review of her remedial action directing Parliament to effect a constitutional amendment to the SARB’s powers."

This week, judgment was reserved in the SARB’s application to have Mkhwebane’s remedial action to change its constitutional mandate set aside.

The matter was heard at the North Gauteng High Court on Tuesday. Judge John Murphy said he would consider the arguments presented and deliver a judgment before August 18, the day the SARB and Parliament are expected to respond to Mkhwebane with an action plan.  

The SARB opposed Mkhwebane’s order, which was part of a report released in June based on an investigation into the Bankorp bailout during the apartheid era.

Mkhwebane ordered the bank’s mandate to be changed to ensure the socio-economic well-being of citizens and to achieve socio-economic transformation.


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public protector  |  sarb  |  busisiwe mkhwebane  |  bankorp
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